By Modupe Gbadeyanka
The average treasury bills yields slightly appreciated by 0.02 percent on Thursday as OMO bills worth N408 billion matured via secondary market.
This was as the mood in the treasury bills space was generally mixed as investors put hopes in an OMO auction by the Central Bank of Nigeria (CBN).
At the close of business yesterday, the average T-bills yields jumped to 14.18 percent.
Specifically, the yields on the one-month instrument gained 0.17 percent to settle at 11.51 percent, the 3-month paper rose by 0.01 percent to end at 13.44 percent, and the 9-month note appreciated by 0.05 percent to finish at 15.33 percent.
However, the yields on the 6-month bill lost 0.13 percent to close at 13.74 percent, while the one-year paper declined by 0.01 percent to finish at 16.87 percent.
Meanwhile, there was a decline in the money market yesterday as the average rate depreciated by 4.55 percent to settle at 5.63 percent.
This followed the fall in the Open Buy Back (OBB) rate by 5.50 percent as well as the 3.59 percent drop in the Overnight (OVN) rate.
Business Post reports that while the OBB rate went down to 5.17 percent on Thursday, the OVN rate slipped to 6.08 percent at the end of the day’s session.
The decline in the money market came on the back of the inflow of maturing N408 bill OMO bills yesterday.
